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Applied Economics Quiz 65 (20 MCQs)

Quiz Instructions

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1. Which of the following is not a macroeconomic goal?
2. .... is the aggregation of the different businesses engaged in the same line of undertaking.
3. New products or services are available to the buyers it gives them more choices
4. A hammer used to build a wooden box
5. Identify the type of market that matches each itemDomestic Helpers
6. One important advantage of forming a partnership is that this form of business organization give each owner sole control over the business
7. Economics is important because this will save us all in heaven
8. What type of economic system is based on customs and beliefs?
9. Philippine congress passed the Value Added tax law to strengthen the Philippines tax system.
10. Policy allowing foreign investment and goods to freely enter the country by removing trade restrictions.
11. Which of the following best refers to the market equilibrium price?
12. It is a condition characterized by severe deprivation of basic human needs, such as food, safe drinking water, health, and education.
13. It is the amount of a given product or service that suppliers are willing to offer to consumers at a given price level at a given period.
14. Creating goods/services for the consumer a) productionb) distributionc) surplus.
15. Allocation and scarcity is a problem because people have unlimited .....
16. What term refers to a company whose primary goal is to make money?
17. The following are tools in evaluating a business except for;
18. These are example of human wants except:
19. DEMAND is the willingness of a consumer to buy a commodity at a given price.
20. .... states that as the price goes up, the quantity demanded goes down and vice versa, considering other things is constant
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